Trump Imposes Sweeping Tariffs on Canada, Mexico, and China

The new tariffs, effective February 18, target key industries and raise economic tensions across North America and beyond.

Donald Trump has signed a decree imposing 25% tariffs on Canadian and Mexican imports and 10% on Chinese goods, citing trade deficits and fentanyl-related concerns.
The tariffs are expected to significantly impact industries such as energy, automotive, and agriculture in Canada and Mexico, with potential GDP declines of 3.6% and 2%, respectively.
The U.S. economy could face inflation spikes and a GDP decline of up to 1.5% in 2025 due to higher consumer prices and disrupted supply chains.
Canadian and Mexican leaders have outlined potential retaliatory measures, including increased tariffs and trade restrictions, but details remain unclear.
Trump has also hinted at targeting the European Union with similar tariffs, further escalating global trade tensions.